The company that owns the popular restaurant chains Applebee’s and IHOP announced Thursday that it plans to close up to 160 locations nationwide.Dine Equity said in a press release that approximately 105 and 135 Applebee’s restaurants will close.It was also announced that IHOP will close up to 25 restaurants.The decision to close the restaurants is based on “franchise profitability, operational results and meeting brand quality standards,” according to the company.It’s not yet clear which locations will be closed. Dine Equity says it has over 3,700 restaurants in 19 countries.